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<blockquote data-quote="Weather Man" data-source="post: 16672679" data-attributes="member: 137766"><p><a href="https://seekingalpha.com/news/3743943-mercedes-benz-joins-stellantis-totalenergies-in-european-battery-cell-venture" target="_blank"></a></p><p><a href="https://seekingalpha.com/news/3743943-mercedes-benz-joins-stellantis-totalenergies-in-european-battery-cell-venture" target="_blank">Mercedes-Benz joins Stellantis, TotalEnergies in European battery cell venture</a></p><ul> <li data-xf-list-type="ul">Mercedes-Benz (<a href="https://seekingalpha.com/symbol/DDAIF" target="_blank">OTCPK<img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite8" alt=":D" title="Big Grin :D" loading="lazy" data-shortname=":D" />DAIF</a>) says it <a href="https://seekingalpha.com/pr/18486046-stellantis-and-totalenergies-welcome-mercedes-benz-new-partner-of-automotive-cells-company" target="_blank">will take a one-third equity stake</a> in battery cell manufacturer Automotive Cells Company, joining original founders Stellantis (NYSE:<a href="https://seekingalpha.com/symbol/STLA" target="_blank">STLA</a>) and TotalEnergies (NYSE:<a href="https://seekingalpha.com/symbol/TTE" target="_blank">TTE</a>).</li> <li data-xf-list-type="ul">"Together with ACC, we will develop and efficiently produce battery cells and modules in Europe, tailor-made to the specific Mercedes-Benz requirements," says Ola Källenius, CEO of Daimler and Mercedes-Benz. "With Mercedes-Benz as a new partner, ACC aims to more than double capacity at its European sites to support Europe's industrial competitiveness in the design and manufacturing of battery cells."</li> <li data-xf-list-type="ul">As part of the deal, Daimler will <a href="https://www.nasdaq.com/articles/daimler-takes-33-stake-in-european-battery-cell-venture-acc-2021-09-24-0" target="_blank">invest a mid-three-digit million euro sum in the project</a> next year, adding that its overall investment would stay below €1B ($1.2B).</li> <li data-xf-list-type="ul">ACC is budgeted to require an investment of €7B in equity, debt and subsidies to reach its desired capacity of 120 GWh by 2030.</li> <li data-xf-list-type="ul">Daimler announced a goal in July of <a href="https://seekingalpha.com/news/3717953-mercedes-benz-unveils-plans-to-go-all-electric" target="_blank">becoming all-electric after 2025</a>.</li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16672679, member: 137766"] [URL='https://seekingalpha.com/news/3743943-mercedes-benz-joins-stellantis-totalenergies-in-european-battery-cell-venture'] Mercedes-Benz joins Stellantis, TotalEnergies in European battery cell venture[/URL] [LIST] [*]Mercedes-Benz ([URL='https://seekingalpha.com/symbol/DDAIF']OTCPK:DDAIF[/URL]) says it [URL='https://seekingalpha.com/pr/18486046-stellantis-and-totalenergies-welcome-mercedes-benz-new-partner-of-automotive-cells-company']will take a one-third equity stake[/URL] in battery cell manufacturer Automotive Cells Company, joining original founders Stellantis (NYSE:[URL='https://seekingalpha.com/symbol/STLA']STLA[/URL]) and TotalEnergies (NYSE:[URL='https://seekingalpha.com/symbol/TTE']TTE[/URL]). [*]"Together with ACC, we will develop and efficiently produce battery cells and modules in Europe, tailor-made to the specific Mercedes-Benz requirements," says Ola Källenius, CEO of Daimler and Mercedes-Benz. "With Mercedes-Benz as a new partner, ACC aims to more than double capacity at its European sites to support Europe's industrial competitiveness in the design and manufacturing of battery cells." [*]As part of the deal, Daimler will [URL='https://www.nasdaq.com/articles/daimler-takes-33-stake-in-european-battery-cell-venture-acc-2021-09-24-0']invest a mid-three-digit million euro sum in the project[/URL] next year, adding that its overall investment would stay below €1B ($1.2B). [*]ACC is budgeted to require an investment of €7B in equity, debt and subsidies to reach its desired capacity of 120 GWh by 2030. [*]Daimler announced a goal in July of [URL='https://seekingalpha.com/news/3717953-mercedes-benz-unveils-plans-to-go-all-electric']becoming all-electric after 2025[/URL]. [/LIST] [/QUOTE]
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